Band 9: The graph below shows the average closing prices of selected precious metals from 2013 to 2021. Summarise the information by selecting and reporting the main features and make comparisons where relevant.

The line graph illustrates the average closing prices of three precious metals—gold, platinum, and palladium—from 2013 to 2021.

Overall, while gold experienced some fluctuations, it showed a significant upward trend towards the end of the period. Platinum, on the other hand, initially rose but then declined consistently. Palladium had a slow start but eventually surpassed the other metals by 2021.

Between 2013 and 2015, gold prices saw a gradual decline from around $1,500 to approximately $1,200. During this period, platinum prices remained relatively stable, plateauing at around $1,500. Meanwhile, palladium experienced a slight decline, maintaining the lowest value among the three metals at approximately $700.

From 2016 onwards, palladium prices began to rise sharply, eventually reaching $2,100 by 2021, overtaking both gold and platinum. Gold, after a steady period from 2016 to 2018, saw a significant increase towards the end, peaking at around $1,800 in 2021. Conversely, platinum, which had started with a higher value, continued its downward trajectory and settled at around $1,000 by 2021.